Export of lobsters to China soars to half a billion baht
China’s ban on lobsters from Australia has pushed Thailand’s crustaceans into seventh place as an exporter of lobsters, earning US$14.1 million or around 500 million baht in 2023, 160 times the tally in 2019 at only US$88,123 or around 3 million baht.
South China Morning Post reported on Wednesday that due to the ban on Australian lobsters that was imposed three-and-a-half years ago, China’s import of lobsters from Southeast Asian countries namely Thailand, Indonesia and Vietnam had doubled since 2019, and now accounted for 6.8% of the Chinese market share.
Thailand’s lobsters secured 2.2% of the Chinese market in 2023.
The ban was in response to calls from Canberra for an inquiry into the origin of the coronavirus. And despite bilateral ties improving since last year, the ban has remained in effect.
Currently, China’s imported lobster market is dominated by products from New Zealand at 40%, followed by Mexico (20%) and the United States (16%).
South China Morning Post said lobsters from Southeast Asian countries are receiving higher market shares since the ban due to higher demand as a result of the rapid expansion of China’s middle-class population.
Thai authorities are also working hard to promote the farming and export of lobsters. Last week, the Department of Intellectual Property announced that it is in the process of registering Phuket province’s famous 7-colour lobster as one of Thailand’s geographical indication (GI) products.
A GI product registration will offer intellectual property protection as well as control the quality of the products.
